TPG buyout denied
US - Reports that TPG, formerly Texas Pacific Group, had been discussing selling shares to major pension funds were dismissed as speculation by the private equity firm.
The UK press office for TPG said it was unaware of any discussions until reports today relayed the information from sources apparently close to the firm.
A US spokesman told Global Pensions the firm had nothing to say on the matter: “If there is anything to say in the future they might, but right now this is all just speculation and there is no comment.”
If the rumours were true, TPG would follow an increasing number of buyout firms floating on the stock market. Fortress Investment Group LLC, a hedge fund and private equity manager with offices in the US, UK and Germany IPO previously raised almost $635 million.
The Californa Public Employees' Retirement System (CalPERS)and the Illinois Teachers' Retirement System (TRS) have invested significant amounts with TPG over the last few years.
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